Abstract:
South Korea’s Ministry of Culture, Sports and Tourism said on Friday that it will impose fines of up to 50 times the sales price on those who illegally resell concert and sports event tickets as part of a crackdown on ticket reselling. Those who report illegal ticket buying or reselling can also receive a reward of up to half the reseller's fine.
South Korea's Ministry of Culture, Sports and Tourism said the measures will take effect from Friday, in accordance with the revised Public Performances Act and the National Sports Promotion Act enforcement order.
The law, revised in February, prohibits the purchase of tickets for resale and the sale of tickets at inflated prices. These restrictions apply regardless of whether the ticket purchaser uses automated software to obtain tickets.
Under the new regulations, ticket sellers and online platforms must take measures to prevent illegal buying, selling and reselling. This includes verifying user identities, operating reporting systems, and limiting the visibility of posts related to suspected illegal transactions. In addition, platforms must also restrict relevant posts when required by designated reporting agencies.
The South Korean government stated that these agencies will be allowed to request relevant information from ticketing companies and online platforms about suspected ticket scalpers, including the identity of the person who posted the ticket sales information and their online records.
The amount of fines imposed on illegal resellers will depend on the number of tickets involved and the amount of proceeds from their sales, ranging from two to five times the sales price.
South Korea’s Ministry of Culture, Sports and Tourism stated that those who report illegal ticket purchases may receive rewards of up to 50 million won (approximately US$16,140); and those who report such illegal ticket sales may receive rewards of up to 50% of the offender’s fine.
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